• <b>Announcing a new Books for Sale platform hosted by Biblio!</b>
    <b>List your books simultaneously on Rare Book Hub and Biblio!</b>
  • <b>Fonsie Mealy: Rare Books, Literature, Manuscripts. December 5, 2017</b>
    <b>Fonsie Mealy, Dec. 5:</b> With Fine Contemporary Hand-Coloured Folding Maps Atlas: MOLL (Hermann). <i>The World Described</i>. 15,000 to 20,000 €
    <b>Fonsie Mealy, Dec. 5:</b> The Holy Grail of Early Photographic Illustrated Irish Books: HEMPHILL (William Despard). <i>Stereoscopic Illustrations of Clonmel, and the Surrounding Country</i>… 7,000 to 10,000 €
    <b>Fonsie Mealy, Dec. 5:</b> "The Nugent Manuscript Archive" including letters on 1798 rebellion In Co. 7,000 to 9,000 €
    <b>Fonsie Mealy: Rare Books, Literature, Manuscripts. December 5, 2017</b>
    <b>Fonsie Mealy, Dec. 5:</b> The Greatest Irish Coloured Plate Book Original Coloured Copy: MALTON (James). <i>A Picturesque and Descriptive View of the City of Dublin Described</i>. 7,000 to 9,000 €
    <b>Fonsie Mealy, Dec. 5:</b> BLAEU (Johannes). <i>Atlas Hibernia</i>, Amsterdam? c. 1662. 1,750 to <br>2,500 €
    <b>Fonsie Mealy, Dec. 5:</b> Rare Limited Edition: YEATS (W.B.). Arion Press, San Francisco. <i>Poems of W.B. Yeats.</i> 1,700 to 2,200 €
    <b>Fonsie Mealy: Rare Books, Literature, Manuscripts. December 5, 2017</b>
    <b>Fonsie Mealy, Dec. 5:</b> [YEATS, W.B.]. Cradle of Genius. Original drawing, pen-and-ink and wash. 1,500 to 2,500 €
    <b>Fonsie Mealy, Dec. 5:</b> W.B. Yeats Meets James Bond? YEATS (W. B.). <i>Selected Poems, Lyrical and Narrative</i>. 1,400 to 1,600 €
    <b>Fonsie Mealy, Dec. 5:</b> Rare Unauthorized U.S. Edition of <i>Ulysses</i>: JOYCE (James). <i>Ulysses</i> - [Two World Monthly, Vol. 1 (No. 1) - vol. 3 (no.3)]. 1,200 to 1,500 €
    <b>Fonsie Mealy: Rare Books, Literature, Manuscripts. December 5, 2017</b>
    <b>Fonsie Mealy, Dec. 5:</b> With Original Holograph Passage by the Author: HEANEY (Seamus). <i>Door Into the Dark</i>. 1,000 to 1,500 €
    <b>Fonsie Mealy, Dec. 5:</b> First American Edition: JOYCE (James). <i>Dubliners</i>, 8vo N. York (B.W. Huebsch) 1916. 600 to 800 €
    <b>Fonsie Mealy, Dec. 5:</b> Rare American Photographs of Niagara Falls: ZYBACK (J.). Photographer, Niagara. Two large original photographs. 300 to 400 €
  • <b>ALDE - Modern Illustrated Books - Original Drawings. 22 November 2017</b>
    <b>ALDE, Nov. 22:</b> DEGAS (Edgar). Danseuses au repos. Charcoal drawing. 30,000€ to 40,000€
    <b>ALDE, Nov. 22:</b> ERNST (Max). Une Semaine de bonté ou Les Sept éléments capitaux. Deuxième cahier. L'Eau. 1934. With an original collage signed by Max Ernst. 15,000€ to 20,000€
    <b>ALDE, Nov. 22:</b> BALZAC (Honoré de). Le Chef-d’œuvre inconnu. 1931. Illustrated edition by Pablo Picasso of 12 original etchings. 20,000€ to 30,000€
    <b>ALDE, Nov. 22:</b> GIACOMETTI (Alberto). Paris sans fin. 1969. Last illustrated book of Giacometti. 15,000€ to 20,000€
  • <b>Bonhams: History of Science and Technology. Wednesday, December 6, 2017. New York</b>
    <b>Bonhams, Dec. 6:</b> Lot 95. Turing. <i>Systems of Logic Based on Ordinals</i>. Offprint. London, 1939. Robin Gandy's Copy. $20,000 to $30,000
    <b>Bonhams, Dec. 6:</b> Lot 98. Zernike, Fritz. The 1953 Nobel Prize for Physics: The Invention of the Phase-Contrast Microscope. $100,000 to $150,000
    <b>Bonhams, Dec. 6:</b> Lot 111. Apple 1 Computer, operational, with exceptional provenance. $400,000 to $600,000
    <b>Bonhams: Voices of the 20th Century. Wednesday, December 6, 2017. New York</b>
    <b>Bonhams, Dec. 6:</b> Lot 1074. Bruce, Lenny. An unreleased 16 mm film by "Count" Lewis DePasquale featuring Lenny Bruce. $7,000 to $10,000
    <b>Bonhams, Dec. 6:</b> Lot 1254. Hirohito. Manuscript in Japanese, "The Emperor's Monologue," transcribed by Terasaki Hidenari. $100,000 to $150,000
    <b>Bonhams, Dec. 6:</b> Lot 1095. Goldman. Emma. Large archive of correspondence, much of it to Warren Starr Van Valkenburgh. $70,000 to $100,000
    <b>Bonhams: History of Science and Technology. Wednesday, December 6, 2017. New York</b>
    <b>Bonhams, Dec. 6:</b> Lot 109. Wozniak and Jobs. The First Digital "Blue Box", Berkeley, 1972. $30,000 to $50,000
    <b>Bonhams, Dec. 6:</b> Lot 46. Newton, Isaac. <i>Philosophiae naturalis principia mathematica</i>. 1st issue. London, 1687. $300,000 to $500,000
    <b>Bonhams, Dec. 6:</b> Lot 49. Newton. Autograph Manuscript in English, a portion of a draft of Newton's study on revelation. $15,000 to $20,000
    <b>Bonhams: Voices of the 20th Century. Wednesday, December 6, 2017. New York</b>
    <b>Bonhams, Dec. 6:</b> Lot 1027. Fitzgerald, F. Scott. The Great Gatsby. 1st edition, 1st issue. Scribners, 1925. $40,000 to $60,000
    <b>Bonhams, Dec. 6:</b> Lot 1042. Hemingway., Ernest. For Whom the Bell Tolls. Presentation copy, one of 15 copies. Scribners, 1940. $25,000 to $35,000
    <b>Bonhams, Dec. 6:</b> Lot 1215. A 48-star American Flag, flown from LCT-703, sunk on Omaha Beach, December 1944. $15,000 to $20,000

Rare Book Monthly

Articles - July - 2017 Issue

A $2 Million Theft? Maybe Not

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How one estimates the value of rare, even unique works is always a challenge. The correct formula is to determine the market price agreed upon by a willing buyer and willing seller, but the rarer the item, the harder that can be to determine. In the case of books, some are extremely rare, occasionally the only known copy. With manuscripts and ephemeral items, there often is only one of its kind.

 

If there is but one of a kind, there are generally two methods employed in valuing it. In the first, a skilled appraiser will search for known prices on comparable items, such as a similar document from the same person, or another person of comparable notoriety. Then there is the other method, whereby the estimator pulls some number out of thin air (or someplace else), often what the owner in his wildest dreams would like to obtain. If you have ever searched the listing sites or eBay, you will undoubtedly find some examples of each, even a few where the unknowing owner grossly underestimates the value (you won't see this as often as they don't last long).

 

This takes us to one of the more amusing cases we have seen lately, where the item was a piece of original art, but the principles are the same. The Abilene (Texas) Police Department recently issued the following report:

 

"A 60 year old Lubbock man who was passing through Abilene on his way to the Metroplex [i.e. Dallas-Forth Worth] alleges someone came into his motel room over the weekend and stole over $2 mil. in paintings, some clothing and a map. Ricky Denzler had rented a room at a motel located at 3417 South 1st in order to visit family. At some point over the weekend Denzler says someone came into his room and stole the 5 paintings, the clothing and a map.

 

"Denzler says he is the artist of the paintings and estimated their value at over $2 million dollars. Denzler did not provide any proof of the paintings. The Abilene Police Department is working this incident as a Burglary of a Habitation. The investigation continues."

 

There were five paintings, four of which Denzler estimated at $2,000, $2,500, $16,000 and $24,000. The fifth he estimated at over $2 million. It appears he used the latter of the two previous methods of estimating value mentioned earlier. Denzler is not a well-known artist. The only matches to his paintings that can be found in an internet search are those referring to this alleged theft. He is, perhaps, the next Michelangelo, but it does not appear that anyone else has recognized that yet. Only Mr. Denzler, who provided the police with the valuations, has so concluded as of this time. It is very unlikely he sought the advice of a licensed appraiser in reaching his estimates.

 

A few other details added to the suspicions. Mr. Denzler was staying in an older, inexpensive motel in a neighborhood of comparables. One usually doesn't leave a $2 million painting alone in the room of such a place. Press reports added further suspicion as the motel manager voiced suspicion based on the appearance of some of the people visiting Mr. Denzler. Abilene police later reported that they had received calls from Interpol and London when reports got out that a $2 million painting had been stolen in Abilene. Abilene police assured them that these were not the paintings they were seeking. They also indicated it was likely that they would close the case.

 

The message here is that for buyers and sellers, it is important to ascertain as closely as possible actual market valuations of collectibles. For buyers, it is imperative if one hopes to be able to sell the item at a future date without incurring a serious loss. For sellers, it is important if one hopes to actually sell their wares. Mr. Denzler may value his painting at $2 million, but he will never sell it until he determines what the fair market value is for his work. Safe to say, he needs to dramatically sharpen his paintbrush.

 

For lower priced items, listing sites such as AbeBooks, Biblio, and Amazon can provide some guidance, though these are only asking prices, not selling prices, and it is not clear how these asking prices are determined. One should look to the lower prices asked for guidance unless there is a discernible difference between those and the ones that are priced higher (condition, etc.). For more valuable books and works on paper, one should look for actual sales records, such as those available through the Rare Book Transaction History (subscription available on this website) or from a recognized appraiser. It is worth getting the numbers right.

Rare Book Monthly

  • <b>Swann Auction Galleries Dec 5:<br>Maps & Atlases, Natural History & Color Plate Books</b>
    <b>Swann Auction Galleries Dec 5:</b><br>John Norman, <i>The American Pilot</i>, complete copy with 11 folding charts, Boston, 1810. $80,000 to $120,000.
    <b>Swann Auction Galleries Dec 5:</b><br>John Smith, <i>New England</i>, London, 1616. $20,000 to $30,000.
    <b>Swann Auction Galleries Dec 5:</b><br>Plancius Petrus, <i>Orbis Terrarum Typus de Integro Multis in Locis Emendatus</i>, Amsterdam, 1594. $10,000 to $15,000.
    <b>Swann Auction Galleries Dec 5:<br>Maps & Atlases, Natural History & Color Plate Books</b>
    <b>Swann Auction Galleries Dec 5:</b><br>Martin Waldseemüller, <i>Tabula Terre Nove</i>, woodcut, Strasbourg, 1513. $30,000 to $40,000.
    <b>Swann Auction Galleries Dec 5:</b><br>Forlani & Zaltieri, <i>Il Disegno del Discoperto della Noua Franza</i>, Venice, 1566. $30,000 to $50,000.
    <b>Swann Auction Galleries Dec 5:</b><br>Richard Hakluyt, <i>Novus Orbis</i>, first appearance of "Virginia" on a printed map, Paris, 1587. $40,000 to $60,000.
    <b>Swann Auction Galleries Dec 5:<br>Maps & Atlases, Natural History & Color Plate Books</b>
    <b>Swann Auction Galleries Dec 5:</b><br>Pieter van den Keere, <i>Nova Totius Terrarum Orbis Geographica</i>, Amsterdam, 1608. $8,000 to $12,000.
    <b>Swann Auction Galleries Dec 5:</b><br>Abraham Ortelius, <i>Theatrum Orbis Terrarum</i>, Antwerp, 1584. $25,000 to $35,000.
    <b>Swann Auction Galleries Dec 5:</b><br>George B. Goode & Samuel A. Kilbourne, <i>Game Fishes of the United States</i>, New York, 1879. $10,000 to $15,000.
    <b>Swann Auction Galleries Dec 5:<br>Maps & Atlases, Natural History & Color Plate Books</b>
    <b>Swann Auction Galleries Dec 5:</b><br>William Faden, <i>The Province of New Jersey</i>, London, 1777. $10,000 to $15,000.
    <b>Swann Auction Galleries Dec 5:</b><br>James Gillray, <i>The Plumb-Pudding in Danger</i>, hand-colored etching, London, 1805. $8,000 to $12,000.
    <b>Swann Auction Galleries Dec 5:</b><br>Pierre Belon, <i>L'Histoire de la Nature des Oyseaux</i>, with woodcut illustrations, Paris, 1555. $8,000 to $12,000.
  • <b>Christie’s Paris, Nov. 28:</b> Seba, Albertus. <i>Locupletissimi rerum naturalium thesauri.</i> Amsterdam: J. Wetsten, 1734[-1769]. €350,000–550,000
    <b>Christie’s Paris, Nov. 28:</b> Janssonius, Joannes. <i>Novus Atlas Absolutissimus</i>. Amsterdam: J Jansson, 1658 [after 1664]. €250,000–450,000
    <b>Christie’s Paris, Nov. 28:</b> Goya, Francisco de. <i>[La Tauromaquia.] Treinta y tres estampas, que representan diferentes suertes y actitudes del arte de lidiar los Toros</i>. Madrid: [Rafael Esteve, 1816]. €150,000–250,000
    <b>Christie’s Online, Nov. 29 – Dec. 06:</b> Einstein, Albert. <i>On residual rays – and guilt about an old girlfriend</i>. Prague, 26 December 1911. US$10,000–15,000
    <b>Christie’s Online, Nov. 29 – Dec. 06:</b> Einstein, Albert. <i>‘What is logically simple is so difficult mathematically'</i>. Princeton, 16 August 1949. US$20,000–30,000
    <b>Christie’s New York, Dec. 5:</b> Yorktown Campaign manuscript map. ‘No 1 Carte générale de l’Isle de New York et des Environs...No 2. Reconnoissance Geometrique…’ n.p., c. 1781–1782. US$150,000–200,000
    <b>Christie’s New York, Dec. 5:</b> Le Hay, Jacques and Ferriol, Charles de (1637–1722). <i>Recueil de cent estampes représentant differentes nations du Levant</i>. Paris: Le Hay and Duchange, 1714. US$30,000–40,000
    <b>Christie’s New York, Dec. 7:</b> Cresswell, Samuel Gurney. <i>A Series of Eight Sketches … of the Voyage of the H.M.S. Investigator during the Discovery of the North-west Passage</i>. London: 1854. US$30,000–40,000.
    <b>Christie’s New York, Dec. 7:</b> Veer, Gerrit de. <i>Diarium nauticum seu vera descriptio trium navigationum admirandarum</i>. Amsterdam: Cornelius [Claesz], 1598. US$25,000–35,000
  • <b>19th Century Shop’s Catalog 170 Great Books and Photos. Please inquire for a copy!</b>
    <b>19th Century Shop:</b> Walt Whitman. Poetical manuscript from <i>Leaves of Grass</i> (1865)
    <b>19th Century Shop:</b> (Daniel Boone.) Filson. <i>The Discovery ... of Kentucke</i> (1784)
    <b>19th Century Shop:</b> Edgar A. Poe. <i>Tales</i> (1845) original cloth
    <b>19th Century Shop’s Catalog 170 Great Books and Photos. Please inquire for a copy!</b>
    <b>19th Century Shop:</b> Emerson. Autograph letter signed on his philosophy of poetry (1841)
    <b>19th Century Shop:</b> Fitzgerald. <i>This Side of Paradise</i> (1920) presentation copy

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